ICBC President Liu Jun: Technology Can Reinforce Trust, Not Replace It

Liu Jun's framing draws the line at credit backing and redemption responsibility rather than code, which matters for how state-linked institutions will judge stablecoins and crypto assets as they proliferate. It signals that China's largest bank sees programmability as an additive layer over existing trust structures, not a substitute for them — a stance that could shape how regulated digital currency initiatives are evaluated. The open question is whether this credit-first test becomes the benchmark applied to new digital money designs, or remains a rhetorical position.